deviation scaled ma - extended
Info
The deviation scaled ma - extended is a Indicator for MetaTrader 5 that theory : the original of deviation scaled ma was originally published here : with some more explanation. that original is using what ehlers calls a "filer" which is simply a difference between close and a close of 2 bars ago.
Usage
This tool is typically used for enhancing chart analysis and decision making.
Platform
This Indicator works exclusively on MetaTrader 5 (both build 600+ and newer versions).
Setup
Place the downloaded file in MQL5/Indicators folder via File ? Open Data Folder in MetaTrader 5.
How to Install and Use deviation scaled ma - extended
1. Installation: Place your file in the MQL/Indicators folder via "Open Data Folder" and restart your terminal.
2. Loading: Find the indicator in the Navigator, drag it onto your chart, and configure the input parameters in the popup window.
3. Customization: Press Ctrl+I to open the indicator list, select your tool, and click "Properties" to change colors, levels, or visual styles.
4. Updating: Replace the old file in the Indicators folder with the new version and restart the platform to apply changes.
Frequently Asked Questions
Q: Why is my indicator not showing? A: Verify the file is in the MQL/Indicators folder, or try right-clicking the "Indicators" tree in the Navigator and clicking "Refresh."
Q: Do custom indicators slow down the platform? A: Too many complex indicators can impact performance; remove unused ones via the "Indicator List" (Ctrl+I).
Q: Can I use MT4 indicators on MT5? A: No, MQL4 and MQL5 are distinct languages; ensure the indicator is compiled specifically for your platform version.
What this tool does
theory : the original of deviation scaled ma was originally published here : with some more explanation.
Typical Use Case
This Indicator excels in automated trading and technical analysis on MetaTrader 5.
Compatible Platform & Setup
This Indicator works on MetaTrader 5. Place the file in the MQL5/Indicators folder and restart the terminal.
Description & Settings
Related: standard deviation (std dev) - another powerful indicator for MetaTrader 5 traders.
theory :
the original of deviation scaled ma was originally published here : with some more explanation. that original is using what ehlers calls a "filer" which is simply a difference between close and a close of 2 bars ago. that is all ok - as long as you use close price ... or as long as you use it to smooth price ...
Also recommended: Mean Deviation Index (MDI) by William Blau - Enhanced MT5 Indicator - similar indicator with strong performance on MetaTrader 5.
it corrects the usage of filter and makes it possible to apply deviation scaled ma to any value (does not matter if it is a price or some other value)usage :
it can be used as any other average now
You may also like: Ergodic Mean Deviation Index Oscillator (MT5) - excellent alternative for indicator users on MetaTrader 5.
Source Code
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⚠ Limitations & Risk Warning
- This tool is provided for educational and testing purposes only.
- Past performance does not guarantee future results.
- Trading involves substantial risk of loss. Use on a demo account first.
- Results may vary depending on market conditions, broker, and settings.
- We recommend thorough backtesting and forward testing before using with real funds.